You are paying for a domain on a gTLD, which is owned by an organization that can charge whatever it wants, and thousands to tens of thousands a year isn't uncommon. Your registrar is only charging tens of dollars a year for their services and they aren't involved in the price hike.

ICANN started selling gTLDs in 2012 and they are not cheap, costing hundreds of thousands to procure, plus tens to hundreds of thousands a year to maintain, which is why prices for domains on that gTLD are usually pricey, too.

There's probably not much you can do, as you need to dispute with the owner of the gTLD, not the registrar, but in the future I recommend switching to either a traditional TLD (e.g. .com, .org, .net, etc.) for the lowest price or a country code (e.g. .io .tv .gg, etc.) which is usually pricier than a traditional TLD but much cheaper than a gTLD.